Earlier this year, Wings Financial Credit Union (Wings Financial) added a 5-year Share Certificate with three rate tiers: 1.96% APY ($500), 2.02% APY ($10k), and 2.07% APY ($90k). Earned dividends can be paid on either a monthly or quarterly basis.
The 5-year Share Certificate is also available as an IRA (Traditional, Roth, and CESA), with the same rate tiers and minimum deposit requirements.
As stated on Wings Financial’s Most Requested Info page, the Early Withdrawal Penalty reads as follows:
Term 12 months or greater = Loss of amount equivalent 2 years’ dividends (730 days)
Headquartered in Apple Valley, Minnesota, Wings Financial Credit Union’s field of membership includes virtually anyone:
Easy Membership: As stated on Wings Financial’s online application, “I would like to become a member of Wings Financial Credit Union by making a donation of at least $5 to the Wings Financial Foundation."
Employment: Individuals who work or have worked in the aviation industry nationwide qualify for membership.
Relationship: Immediate family members of current Wing Financial members are eligible to join.
N.B. - According to the About Membership page:
If you have an existing relationship with Wings Financial, you will not be able to
use our online membership application. (Example: If you are joint on an account,
but you are not a member of Wings.) Please call Member Services for assistance.
Credit Union Overview
Wings Financial Credit Union (NCUA Charter # 68601) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 0.99% (excellent) based on March 31, 2016 data. In the past year, Wings Financial has increased its total deposits by $149.126 million, an excellent annual growth rate of 4.21%. Please refer to our financial overview of Wings Financial Credit Union for more details.
Wings Financial Credit Union was originally founded in 1938 as Northwest Airlines Credit Union by seven airline employees. In the past five years, Wings Financial has merged with the St. Paul-based Highgrove Community Credit Union and the Minneapolis-based City-County Federal Credit Union to become the nation’s 33rd largest credit union, with over 206,800 members and assets in excess of $4.3 billion.
How the CD Compares
When compared to the 134 similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Wings Financial Credit Union's 5-year Share Certificate currently ranks in the top eight, regardless of minimum deposit. The following is a sampling of those eight CDs.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.32% APY||5-Year Share Certificate ($5k min)||Melrose Credit Union|
|2.30% APY||60-Month CD ($500min)||Mountain America Credit Union|
|2.07% APY||5-Year Share Certificate ($90k min)||Wings Financial Credit Union|
The above rates are accurate as of 7/25/2016.